Visa Plastiq Mortgage Payments Update: Visa Cards Will Not Process

With more Plastiq updates hurling at us, here’s what you should expect and I urge all VISA cardholder be aware of such a phenomenon. This will be a lay-up on top of the more recent updates which include the Chase Sapphire Reserve’s 3x no longer being no longer coded as Lodging/Travel through Plastiq and the Paypal Business Debit getting slapped with a 2.5% fee.

VISA has just informed Plastiq that they can no longer process mortgage payments. If you use a VISA to pay for mortgage, you will be prompted with a recommendation to use another card. Note that rent payments made through Plastiq via VISA will not change, just mortgage payments.

Visa Plastiq Mortgage Payments Update Summary:

• VISA will no longer be processed as mortgage payments via Plastiq
  • Rent Payments with VISA are still eligible
• Notion that small bank cards that run VISA may still be able to process as mortgage payments via Plastiq (YMMV)

List of Recent Plastiq Updates:

• Chase Sapphire Reserves no longer earning 3x on lodging/travel via Plastiq – June 3, 2017.
• Paypal Business Debit Card being treated as credit card; accrued 2.5% fee – June 8, 2017.
• VISA can no longer process mortgage payments via Plastiq – June 12, 2017.

Final Analysis:

“We recommend paying with a different card for this payment.” Seems like things are finally taking it’s toll for Plastiq and hopefully this will be the last update, however, with the way things are moving, I can’t say for sure that everything will be settling. VISA will no longer be processing mortgage payments via Plastiq, however, if you’re making rent payments via VISA through Plastiq, you will still be able to do so with no problem. Don’t forget to check out our full list of Credit Card Bonuses if you’re not interested at the moment.